MIRA
INFORM REPORT
|
Report Date : |
30.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
EIFFEL INDIA INFRAPROJECTS PRIVATE LIMITED (w.e.f. 22.12.2010) |
|
|
|
|
Formerly Known
As : |
EIFFEL REALTY PRIVATE LIMITED (w.e.f. 04.06.2008) BHOOMI HORTICULTURE PRIVATE LIMITED |
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Registered
Office : |
Office No. 125/126, Patil Plaza, Mitramandal Chowk, Parvati, Pune –
411009, Maharashtra |
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Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2011 |
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|
Date of
Incorporation : |
04.09.2006 |
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|
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Com. Reg. No.: |
11-129001 |
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Capital
Investment / Paid-up Capital : |
Rs.28.700 Millions |
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|
|
|
CIN No.: [Company Identification
No.] |
U01403PN2006PTC129001 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Construction Activities. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 524000 |
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|
|
Status : |
Moderate |
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|
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The management has failed to file its financial with government
department for the financial year 2012 and 2013. As per previous financial record of 2011 profit margin of the company
appears to be low. However, trade relations are reported as fair. Business is active.
Payments are reported to be unknown. The company can be considered for business dealings with some
caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The report
says that the adverse effects of rupee depreciation are likely to be offset by
the gains in the exports performance due to improved external competitiveness.
Since May this year, the local currency has depreciated substantially and fell
to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone
5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been
launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
B+ (Long Term Rating) |
|
Rating Explanation |
Risk prone credit quality and high risk of
default. |
|
Date |
October 17, 2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A4 (Short Term Rating) |
|
Rating Explanation |
Minimal degree of safety and high credit
risk. |
|
Date |
October 17, 2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DENIED BY
|
Name : |
Mr. Rajendra |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-20-66858658 |
|
Date : |
26.11.2013 |
LOCATIONS
|
Registered Office : |
Office No. 125/126, Patil Plaza, Mitramandal Chowk, Parvati, Pune –
411009, Maharashtra, India |
|
Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Branch Office : |
No. D-87, Sector 41, Noida, District Gautam Budh Nagar, Uttar Pradesh, India |
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Tel. No.: |
91-120-4570802/ 3/ 4 |
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Fax No.: |
91-120-4570805 |
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Corporate Office : |
125/26/27, Patil Plaza, 1st Floor, Near Mitramandal Chowk, Parvati, Pune – 411009, Maharashtra, India |
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Tel. No.: |
91-20-24441425 |
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Fax No.: |
91-20-24441428 |
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E-Mail : |
DIRECTORS
As on: 30.09.2010
|
Name : |
Shailendra Chaudhari |
|
Designation : |
Director |
|
Address : |
Hingane Home Colony, Dr. Khenab Chawl, Karvenagar Pune – 411052, Maharashtra,
India |
|
Date of Birth/Age : |
08.04.1986 |
|
Date of Appointment : |
01.09.2010 |
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DIN No.: |
03173474 |
|
|
|
|
Name : |
Mr. Shekhar Dattatray Savlekar |
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Designation : |
Director |
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Address : |
Kamathenagar, Vagh Vasti Somji Basastep, Javal, Kondhava Bu. Pune –
411048, Maharashtra, India |
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Date of Birth/Age : |
19.10.1969 |
|
Date of Appointment : |
27.01.2012 |
|
DIN No.: |
02876472 |
KEY EXECUTIVES
|
Name : |
Mr. Rajendra |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Eiffel Developers and Realtors Limited, India |
|
2296000 |
|
Santosh Bansal Bhansali |
|
2000 |
|
Sangam Infracon Landmarks Private Limited, India |
|
572000 |
|
|
|
|
|
Total |
|
2870000 |
As on: 07.01.2013
|
Names of Allottee |
|
No. of Shares |
|
Xrbia Developers Limited, India |
|
1428572 |
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|
|
|
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Total |
|
1428572 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2010
|
Category |
|
Percentage |
|
Bodies corporate |
|
99.94 |
|
Other top fifty shareholders |
|
0.06 |
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|
|
|
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Construction Activities. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
Andhra Bank ·
Bank of India ·
Oriental Bank of Commerce ·
Punjab National Bank ·
Bank of Maharashtra |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
S.M. Suratwala and Company Chartered Accountants |
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Address : |
1082, Shukrawar Peth, Sathe Colony, Pune – 411002, Maharashtra, India |
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PAN No.: |
ADXPS4436N |
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Parent Company : |
Eiffel Developers and Realtors Limited |
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Associates : |
Eden Landmarks Private Limited |
CAPITAL STRUCTURE
After: 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4500000 |
Equity Shares |
Rs.10/- each |
Rs.45.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
4298572 |
Equity Shares |
Rs.10/- each |
Rs.42.986 Millions |
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|
As on: 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
2870000 |
Equity Shares |
Rs.10/- each |
Rs.28.700 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
28.700 |
28.700 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
102.317 |
99.252 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
131.017 |
127.952 |
0.100 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
112.745 |
49.773 |
0.000 |
|
|
2] Unsecured Loans |
55.651 |
7.587 |
32.766 |
|
|
TOTAL BORROWING |
168.396 |
57.360 |
32.766 |
|
|
DEFERRED TAX LIABILITIES |
0.361 |
0.572 |
0.039 |
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|
|
|
|
|
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TOTAL |
299.774 |
185.884 |
32.905 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
10.569 |
10.420 |
1.400 |
|
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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INVESTMENT |
0.000 |
0.000 |
0.000 |
|
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
87.111
|
88.352
|
39.388
|
|
|
Sundry Debtors |
5.595
|
18.130
|
0.000
|
|
|
Cash & Bank Balances |
3.239
|
27.445
|
38.144
|
|
|
Other Current Assets |
171.253
|
63.041
|
0.080
|
|
|
Loans & Advances |
213.901
|
211.832
|
1.834
|
|
Total
Current Assets |
481.099
|
408.800
|
79.446
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
77.177
|
31.865
|
3.186
|
|
|
Other Current Liabilities |
108.925
|
176.334
|
44.026
|
|
|
Provisions |
5.956
|
25.358
|
0.817
|
|
Total
Current Liabilities |
192.058
|
233.557
|
48.029
|
|
|
Net Current Assets |
289.041
|
175.243
|
31.417
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.164 |
0.221 |
0.088 |
|
|
|
|
|
|
|
|
TOTAL |
299.774 |
185.884 |
32.905 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
716.369 |
730.700 |
0.213 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
697.501 |
658.542 |
(0.288) |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
18.868 |
72.158 |
0.501 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
10.889 |
10.050 |
0.491 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
7.979 |
62.108 |
0.010 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.276 |
12.239 |
0.010 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
4.703 |
49.869 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.639 |
22.050 |
0.055 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
3.064 |
27.819 |
(0.055) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.07 |
9.70 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.43 |
3.81 |
(25.82) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.96 |
11.90 |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
0.39 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.29 |
0.45 |
327.66 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.50 |
1.75 |
1.65 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As on 31.03.2011 |
As on 31.03.2010 |
|
Eiffel Developers and Realtors Limited |
50.645 |
(8.919) |
|
Eden Landmark Private Limited |
2.500 |
15.000 |
|
Nahar Riddhi Siddhi Developers |
1.256 |
1.256 |
|
Santosh Bhansali |
1.250 |
0.250 |
|
|
|
|
|
Total |
55.651 |
7.587 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10456137 |
15/10/2013 |
7,074,929.00 |
L and T FINANCE LIMITED |
L AND T HOUSE, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
B87991535 |
|
2 |
10450192 |
23/09/2013 |
4,907,207.00 |
L and T FINANCE LIMITED |
L AND T HOUSE, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
B85436871 |
|
3 |
10442277 |
30/07/2013 |
10,159,196.00 |
L and T FINANCE LIMITED |
L AND T HOUSE, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
B81804296 |
|
4 |
10433673 |
19/06/2013 |
8,648,289.00 |
L and T FINANCE LIMITED |
L AND T HOUSE, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
B78226081 |
|
5 |
10425376 |
25/04/2013 |
20,595,565.00 |
L and T FINANCE LIMITED |
L AND T HOUSE, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
B75013417 |
|
6 |
10414352 |
26/03/2013 |
49,871,442.00 |
L and T FINANCE LIMITED |
L AND T HOUSE, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
B71653091 |
|
7 |
10401222 |
07/01/2013 |
100,000,000.00 |
Axis Bank Limited |
GROUND FLOOR, AXIS HOUSE, BOMBAY DYEING MILLS COMPOUND, P
B MARG, WORLI, MUMBAI, MAHARASHTRA - 400 |
B67330993 |
|
8 |
10186427 |
11/12/2012 * |
280,000,000.00 |
Andhra Bank |
610 SACHAPIR STREET, CAMP, PUNE, PUNE, MAHARASHTRA - 411001, INDIA |
B80161706 |
* Date of charge modification
OPERATIONS AND FUTURE
PROSPECTS:
During the year the company has achieved a turnover of Rs. 716.369 Millions and reported a net profit after tax of Rs. 3.064 Millions after incurring the total expenditure Rs. 697.500 Millions. However as compared to previous year, there is down fall in the profits before tax of your company, however there is a marginal increase in the net profit after tax of the company.
Considering the positive signs in the real estate industry, it is expected that the company would be able to report much improved turnover and profitability. The company is also planning to adopt various strategies and plans which would be advantageous and in the best interest of the company.
The Management is also hopeful to yield maximum profitability in the coming financial years as the company is in the process of undertaking various measures to cut the cost and increase the efficiency so as to achieve economies of scale and thereby achieving more revenues in the coming years. The company and your directors are continuously looking for various avenues for future growth of the Company and are evaluating various areas where the investment in properties can fetch good returns for the company.
FIXED ASSETS
· Computer System
· Furniture and Fixtures
· Office Equipment
· Plant and Machinery
· Software
· Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.39 |
|
|
1 |
Rs.102.06 |
|
Euro |
1 |
Rs.84.96 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
26 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely
sound financial base with the strongest capability for timely payment of
interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working
capital. No caution needed for credit transaction. It has above average
(strong) capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial &
operational base are regarded healthy. General unfavourable factors will not cause
fatal effect. Satisfactory capability for payment of interest and principal
sums |
Fairly
Large |
|
41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial
difficulties seems comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are
apparent. Repayment of interest and principal sums in default or expected to
be in default upon maturity |
Limited
with full security |
|
<10 |
C |
Absolute credit risk
exists. Caution needed to be exercised |
Credit
not recommended |
|
-- |
NB |
New
Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.